Teradyne Inc to cut 300-400 jobs - report
September 23, 1998 02:12 PM
BOSTON, Sept 23 (Reuters) - Teradyne Inc TER plans to cut 300 to 400 full-time and temporary workers due to the continuing slowdown in the computer chip industry, the Boston Herald reported on Wednesday.
Officials from Teradyne did not return phone calls seeking comment from Reuters.
Half the cuts at the Boston-based company, which manufactures test equipment used in making computer chips, will be made in Massachusetts and New Hampshire, the Herald said.
Last quarter, Teradyne cut 700 contractors and temporary employees due to declining sales, cutting total employment to 7,700, the Herald said.
Teradyne shares were unchanged at 18-3/4 on the New York Stock Exchange in mid-morning trade.
((Boston newsroom, (617) 367-4106, fax (617) 248-9563, boston.newsroom@reuters.com))
REUTERS
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